FINCARE SMALL FINANCE BANK LIMITED FILES DRHP WITH SEBI

FINCARE SMALL FINANCE BANK LIMITED FILES DRHP WITH SEBI

Fincare Small Finance Bank Limited (“The Bank”) a "digital-first" SFB with a focus on unbanked and under-banked customer segments especially in rural and semiurban areas, has filed Draft Red Herring prospectus with market regulator Security Exchange Board of India (SEBI).

The Bank plans to raise funds via Initial Public Offerings through issue of equity share capital of face value ₹ 10 each comprising of fresh issue aggregating upto ₹ 625 crore (The “Fresh Issue”) and Offer for sale aggregating up to 17,000,000 equity shares by Promoter and Investor Selling shareholders (The “Offer for Sale”)

The bank proposes to utilize the net proceeds of the fresh Issue towards augmentation of Bank’s Tier-I capital base to meet its Bank’s future capital requirements which are expected to arise out of growth in its Bank’s assets, primarily our Bank’s loans/advances and investment portfolio and to ensure compliance with regulatory requirements on capital adequacy prescribed by the RBI from time to time.

The offer of equity shares comprises of up to 14,934,779 equity shares by Fincare Business Services Limited (“Promoter Selling Shareholder”) and up to 471,754 equity shares by Wagner Limited, up to 444,140 equity shares by True North Fund V LLP, up to 430,842 equity shares by Indium IV (Mauritius) Holdings Limited, up to 223,955 equity shares by Omega TC Holdings PTE. Ltd; up to 130,787 equity shares by Leapfrog Rural Inclusion (India) Limited; up to 126,151 equity shares by Kotak Mahindra Life Insurance Company Limited; up to 116,981 equity shares by Edelweiss Tokio Life Insurance Company Limited; up to 45,710 equity shares by Bharti AXA Life Insurance Company limited; up to 35,092 equity shares by Silver Leaf Oak (Manutius) Limited; up to 20,752 equity shares by Tata Capital Financial Services Ltd and up to 19,237 equity shares by Edelweiss General Insurance Company Limited (“Investor Selling Shareholders”) (“Collectively Selling Shareholders”)

ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, SBI Capital Markets Limited and Ambit Private Limited are the Book Running Lead Managers